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Trade What You See - Almost Naked Trading

  • #5,401
  • Nov 23, 2010 7:32pm Nov 23, 2010 7:32pm
Yes, agreed. What I meant was that you ought to hv been in the trade 5 bars ago when a bo downward occurred, with the red candle closed outside of the ranging band.

Quoting lawgirl21
Because that pair had been trading a narrow range over quite a period of time. Sooner or later it would head in a discernible direction.
  • #5,402
  • Nov 23, 2010 7:32pm Nov 23, 2010 7:32pm
Hey Guys This should be my first chart on this thread. but Ive be following for a while now/ I beleive this is a valid 3tap.Im in
Attached Image
Add value everyday in Pips
  • #5,403
  • Nov 23, 2010 7:50pm Nov 23, 2010 7:50pm
What timeframe? This pattern isn't showing on any of mine.
  • #5,404
  • Nov 23, 2010 7:54pm Nov 23, 2010 7:54pm
Time to look for H1 4C BO setups...this is the gift that keeps on giving.
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  • #5,405
  • Nov 23, 2010 7:55pm Nov 23, 2010 7:55pm
Quoting mary4x
What timeframe? This pattern isn't showing on any of mine.
4hr broker alpari uk
Add value everyday in Pips
  • #5,406
  • Nov 23, 2010 7:57pm Nov 23, 2010 7:57pm
Another potential H1 4C Bo setup
Attached Image
  • #5,407
  • Nov 23, 2010 7:57pm Nov 23, 2010 7:57pm
Thanks, Serb, I am working on that, too. Just finished Carter's book and he stresses all of that, gives a nice example (stock-oriented, of course) of a newbie's trading plan. Also explains his own. I am trying to translate that to forex at the moment.
  • #5,408
  • Nov 23, 2010 8:09pm Nov 23, 2010 8:09pm
Quoting jsmanuse
Not to name drop or anything, but your comment might inspire some to think you are lucky. I was speaking to Andrew Cardwell a while back (the King of RSI - yes I know him and he is a fine gentleman) and he said he does not believe in luck at all when it comes to trading. He said what some people see as luck is nothing more than the point where preparation meets opportunity. In your case LG, you have prepared well enough!

Joe
I have to admit that I had never heard of Andrew Cardwell, but I looked him up. Very impressive. The prices of his courses are very impressive too! Have you taken any of them? Thank you very much for the compliment..I certainly try.
  • #5,409
  • Nov 23, 2010 8:11pm Nov 23, 2010 8:11pm
Quoting lawgirl21
Time to look for H1 4C BO setups...this is the gift that keeps on giving.
Like it too... I already made a lot off this pair yesterday, and have a pending order in at 3630 which would be a clear break of the July/Aug support line

Oops... thats the EUR/CAD, sorry
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,410
  • Nov 23, 2010 8:16pm Nov 23, 2010 8:16pm
Hi LG I posted chart a few post back. could u look at it and confirm if thts a valid 3tap Im actually new at this nice setups of urs. thanks
Add value everyday in Pips
  • #5,411
  • Nov 23, 2010 8:23pm Nov 23, 2010 8:23pm
Thx for alert.

Do you enter as soon as price breaks out of range band? or do you wait for candle to close, in which case candle at what timeframe, H1 or M30 or M15?

Bless!

Quoting lawgirl21
Time to look for H1 4C BO setups...this is the gift that keeps on giving.
  • #5,412
  • Nov 23, 2010 8:29pm Nov 23, 2010 8:29pm
Quoting pt49
Like it too... I already made a lot off this pair yesterday, and have a pending order in at 3630 which would be a clear break of the July/Aug support line

Oops... thats the EUR/CAD, sorry
But you're right, it looks good too.
Attached Image
  • #5,413
  • Nov 23, 2010 8:33pm Nov 23, 2010 8:33pm
Quoting Pip-Stud
Hi LG I posted chart a few post back. could u look at it and confirm if thts a valid 3tap Im actually new at this nice setups of urs. thanks
I see it as potentially a better consolidation BO trade. But in which direction?
Attached Image (click to enlarge)
Click to Enlarge Name: 4xxx.gif Size: 11 KB
  • #5,414
  • Nov 23, 2010 8:37pm Nov 23, 2010 8:37pm
Hi LG

One practical question: How do we determine the direction of bo so that we place the appropriate long or short stop order waiting there outside the range band? Based on W1 & D1 direction only & ignore H4 direction?

Or we don't second guess the direction but place both long & short stop orders waiting there?

As of now, EURAUD on D1 remains down whereas H4 is up.

Bless!
  • #5,415
  • Nov 23, 2010 8:40pm Nov 23, 2010 8:40pm
Quoting lawgirl21
I see it as potentially a better consolidation BO trade. But in which direction?
I see looks like im my charts looks slightly different from urs. maybe broker thing thank u for u looking though
Add value everyday in Pips
  • #5,416
  • Nov 23, 2010 8:41pm Nov 23, 2010 8:41pm
CollectPIPS... Only trade in the direction of the trend... use the arrows
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,417
  • Nov 23, 2010 8:47pm Nov 23, 2010 8:47pm
Thx PT.

Yes, but following the W1 & D1 trend arrows only & ignore H4 arrow, as it changes ?

What if D1 arrow also changes its direction later before bo takes place as time progresses? And we are not around to see it?

Bless!

Quoting pt49
CollectPIPS... Only trade in the direction of the trend... use the arrows
  • #5,418
  • Nov 23, 2010 8:47pm Nov 23, 2010 8:47pm
Another BO setting up.
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  • #5,419
  • Nov 23, 2010 8:55pm Nov 23, 2010 8:55pm
Are you in the long trade already? So, we ignore W1 arrow?

Bless!

Quoting lawgirl21
Another BO setting up.
  • #5,420
  • Nov 23, 2010 9:00pm Nov 23, 2010 9:00pm
Quoting CollectPIPS
Are you in the long trade already? So, we ignore W1 arrow?

Bless!
No, I am not in any trades now except for EURUSD. These are all setups to watch. It is Tuesday, weekly RSI is not reliable yet so we look more to the other TFs and PA. I think you need to go back through the thread and read/re-read.
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